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Strategies & Market Trends : Asia Forum
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To: Henry Volquardsen who wrote (6677)9/24/1998 3:28:00 PM
From: Ramsey Su  Read Replies (2) of 9980
 
Henry,

let me just raise a question.

If LTC was playing with interest rate sensitive instruments, the Fed is either on the other side of the fence or at least in a position to influence the profitability of LTC's hedges.

Obviously, LTC placed the wrong bet and is losing money possibly because of Fed action (or lack of). Now the Fed steps back in to play nice guy? Aren't we doing exactly the same thing that we are accusing Japan of.

The Fed may not be an impartial third party. In those closed door meetings, is it possible that they actually devised a plan to "punish" these hedge funds?

Ramsey
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